Economic Measurement Lost in a Random Forest? A Case Study of Employment Data.

Big data and machine learning (ML) offer transformative potential for economic measurement. This study evaluates the use of alternative employment data from a payroll processor to improve on timely measures of regional employment estimates, comparing ML methods--Lasso regression and Random Forest (R...

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Bibliographic Details

Published in:	AEA Papers & Proceedings Vol. 115; pp. 68 - 73
Main Authors:	Dunn, Abe, English, Eric, Hood, Kyle, Mason, Lowell, Quistorff, Brian
Format:	Article
Published:	American Economic Association May2025
Subjects:	Machine learning Random forest algorithms Big data Sampling errors Economic statistics Employment statistics Model validation
Online Access:	View this record in EBSCOhost